Fly News Breaks for January 28, 2020
WYNN, LVS, MLCO, MGM
Jan 28, 2020 | 08:52 EDT
MGM Resorts (MGM), Melco Resorts & Entertainment (MLCO), Las Vegas Sands (LVS) and Wynn Resorts (WYNN) are down an average 16% since coronavirus emerged as a widespread risk to travel, JPMorgan analyst Joseph Greff tells investors in a research note. The analyst believes a "very harsh" EBITDA impact is already being reflected at current share levels, and thus he has some level of reasonable confidence that there are values to pick through in the recent carnage." Greff would be buyers of Melco, Wynn, MGM and Las Vegas Sands, in that order.
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